We identify new market and product opportunities to help companies grow.
Call us: 312.276.5140 Email: info@ericksonresearch.com

Erickson Research Blog

All posts in Market Growth Opportunities

Are You Up to the Challenge? An Invaluable Exercise for all B2B Sellers.

stock photo agencyHow quickly (and accurately) can you finish this sentence?

Our product (or service) can help your company…

If you found yourself struggling for a definitive answer, you need to find one…ASAP.  Otherwise, a lot of potential customers might pass you by.

Here’s why…

Put yourself in your buyer’s shoes for a moment. Imagine you are a baked goods manufacturer looking to purchase a new oven. You’re exploring the various options, hoping to find something that will improve efficiency, save energy, and decrease downtime.

You do some research for potential suppliers and come across Mark’s Fabulous Bakery Equipment. When you ask about their offerings, they are very enthusiastic about their latest oven.

This is how they describe it to you…

“Our state-of-the-art Pro Baker Oven is a best-in-class product that’s a smarter choice for your production line. Its sleek design includes diamond-shaped controls that have a superior appearance to traditional round ones. And it comes in exciting colors like red, orange or navy.”

Sounds impressive, doesn’t it?  But as a buyer, how do you know what they’re actually trying to sell you? In other words…

  • What do they mean by best-in-class product? By what measure?
  • Why is it a smarter choice? Smarter than…what/who?
  • What makes these controls any better than traditional (besides their ‘look’)? Why do you need to change this?
  • Is there something important or useful about the variety of colors? (note: every other production line oven you’ve ever seen is a standard silver)

Bottom line: why should any of this matter to you?

From talking extensively with B2B purchase decision-makers, we’ve learned that many products and services are dismissed because the seller is unable to

  • Clearly demonstrate what it actually does
  • Credibly establish how it’s different or better than competitors’

The thing is, B2B buyers aren’t impressed with product descriptions that are loaded with fluffy language.  It doesn’t help them with their purchase decision. Instead, it mostly just causes confusion and makes them question the knowledge and integrity of the seller.

On the other hand, simple, focused product descriptions speak volumes.  Like this…

Our product catalog can help your company attract buyers by creating listings that are more visible and appealing. (EBay)

or this…

Our products can help your company provide accurate and objective health and medical information that’s credible, relevant and timely. (Health Day News)

Remember the ‘finish the sentence’ exercise you tried earlier?  Try it again…with your team (especially sales reps).  Then share your results with each other. This provides a great opportunity to:

  • Address and clarify areas of misinformation about your offering
  • Discover alternate ways of talking about your product/service that could be more effective
  • Establish a consistent value proposition throughout your organization
  • Create enthusiasm for your offering and in turn, better motivate your sales team

This is just one of several key (often game-changing) findings from our research in the B2B marketplace.  For more tips, download our e-book, “What B2B Buyers Really Care About.”

Our New (Free) E-book is Now Available for Download: What Do B2B Buyers Really Care About?

B2B Buyers
A lot of time, money, and effort goes into your sales and marketing campaigns aimed at B2B buyers. But are you saying and doing the right things to close the sale?

From thousands of in-depth interviews with senior B2B decision-makers, we’ve identified five things that really matter to B2B buyers. These are issues that we’ve seen in every sector from office products to network infrastructure – and from the purchasing department to the C-Suite.

Download the full report here.

So what things do B2B buyers care about?  Here’s one of them…

“Just tell me what it actually does.” B2B buyers aren’t impressed with product descriptions that are loaded with fluffy language and jargon. It doesn’t help them with their purchase decision. Instead, it mostly just causes confusion and makes them question the knowledge and integrity of the seller.

Download the full report for more on this topic (and four others you need to know). We’ll also share steps you can take to increase the effectiveness of your sales and marketing efforts.

Random Sampling: Our Weekly Roundup of Ideas to Grow By

This week’s picks for clever approaches to
market growth and buildingSurrounded brands…

Dollar General Corporation capitalizes on what they call the ‘fill in’ stop. Diverse Retailers Compete for Food Dollars

Baron’s Market zigs while other grocers zag. Offering a limited selection of products with a focus on high quality and everyday value.  SD Grocery Chain Simplifies Shopping

Google finds faster, easier, more convenient ways to connect buyers with brands and in turn, helps expedite the path to purchase.  YouTube Jumps into Retail with Shoppable Videos for Brand Channels

Page 1 of 41234